Drill bits are known for forming holes in masonry, concrete, and stone. Such drill bits generally have a shank portion configured to couple the drill bit to a power tool (such as a drill driver, an impact driver, a hammer drill, or a rotary hammer), an intermediate shaft having one or more spiral flutes, and a cutting head. One such drill bit is a DeWALT® DT60836-QZ 32-920 XLR® drill bit shown in FIG. 10. This drill bit suffers from several deficiencies, including, for example, a slower than desired cutting speed, a shorter than desired life, and formation of holes that are not perfectly round.